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is china. and, of course, we have a conversation about india and pakistan, the big piece of that we haven't talked about at all is china. you are of the view that some of the current almost hysteria about the rise of china and what it would mean for the long-term consequences to american power has been broadly over seed in the u.s. tell me why. >> guest: statistics. there are 1.3 billion people in china. 600 million of them live in households earning less than $3 a day. 440 million live in households earning between three and $6 a day. in other words, china over 80% of it lives in poverty that is sub-saharan. there's a china that has about 69 people. they have average income of $20,000 a year. which is the size of france. it's not a trivial number but it's less than 5% of china. that china cannot sell to china. they're trying to find ways to do. you can't sell pipettes to a person who earns $3 a day. they are the hostage of the way. a gun pointing at the head of china is the rising american savings rate. every dollar not spent at wal-mart is taken out of the chinese hide. the chinese are
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